Short Interest in BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) Rises By 275.6%

BNY Mellon Strategic Municipals, Inc. (NYSE:LEO) was the target of a significant growth in short interest during the month of February. As of February 28th, there was short interest totalling 67,600 shares, a growth of 275.6% from the February 13th total of 18,000 shares. Based on an average daily volume of 201,300 shares, the days-to-cover ratio is currently 0.3 days.

BNY Mellon Strategic Municipals Price Performance

Shares of LEO stock traded down $0.01 during mid-day trading on Friday, hitting $6.12. 61,612 shares of the company’s stock were exchanged, compared to its average volume of 170,292. BNY Mellon Strategic Municipals has a fifty-two week low of $5.79 and a fifty-two week high of $6.64. The stock has a 50-day simple moving average of $6.19 and a two-hundred day simple moving average of $6.29.

BNY Mellon Strategic Municipals Dividend Announcement

The company also recently announced a monthly dividend, which will be paid on Monday, March 31st. Investors of record on Friday, March 14th will be given a $0.019 dividend. This represents a $0.23 annualized dividend and a dividend yield of 3.73%. The ex-dividend date is Friday, March 14th.

Institutional Inflows and Outflows

Large investors have recently made changes to their positions in the company. Saba Capital Management L.P. raised its position in BNY Mellon Strategic Municipals by 11.2% in the fourth quarter. Saba Capital Management L.P. now owns 4,932,793 shares of the investment management company’s stock valued at $29,794,000 after purchasing an additional 496,846 shares during the period. Rivernorth Capital Management LLC raised its position in BNY Mellon Strategic Municipals by 25.7% in the third quarter. Rivernorth Capital Management LLC now owns 2,411,067 shares of the investment management company’s stock valued at $15,696,000 after purchasing an additional 492,244 shares during the period. Pathstone Holdings LLC raised its position in BNY Mellon Strategic Municipals by 34.8% in the fourth quarter. Pathstone Holdings LLC now owns 1,488,106 shares of the investment management company’s stock valued at $8,993,000 after purchasing an additional 384,579 shares during the period. Wells Fargo & Company MN raised its position in BNY Mellon Strategic Municipals by 4.6% in the fourth quarter. Wells Fargo & Company MN now owns 1,465,414 shares of the investment management company’s stock valued at $8,851,000 after purchasing an additional 64,526 shares during the period. Finally, Logan Stone Capital LLC raised its position in BNY Mellon Strategic Municipals by 0.6% in the fourth quarter. Logan Stone Capital LLC now owns 1,244,554 shares of the investment management company’s stock valued at $7,517,000 after purchasing an additional 7,130 shares during the period.

BNY Mellon Strategic Municipals Company Profile

BNY Mellon Strategic Municipals, Inc is a closed ended fixed income mutual fund launched and managed by BNY Mellon Investment Adviser, Inc It invests in the fixed income markets of the United States. The fund primarily invests in investment grade municipal bonds, the income from which is exempt from federal income tax.